Labrador Iron Ore Royalty Co. (TSE:LIF) Increases Dividend to $1.10 Per Share

Labrador Iron Ore Royalty Co. (TSE:LIF) announced a quarterly dividend on Tuesday, June 11th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 1.10 per share on Friday, July 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 14.45%. The ex-dividend date is Friday, June 28th. This is an increase from Labrador Iron Ore Royalty’s previous quarterly dividend of $0.45.

Labrador Iron Ore Royalty Price Performance

Shares of TSE:LIF opened at C$30.44 on Thursday. The business’s 50 day moving average price is C$29.89 and its 200-day moving average price is C$30.64. The firm has a market capitalization of C$1.95 billion, a PE ratio of 9.63, a P/E/G ratio of 0.94 and a beta of 1.10. Labrador Iron Ore Royalty has a 1 year low of C$28.48 and a 1 year high of C$34.18.

Labrador Iron Ore Royalty (TSE:LIF) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C$0.93 earnings per share (EPS) for the quarter. The firm had revenue of C$56.66 million for the quarter. Labrador Iron Ore Royalty had a return on equity of 30.18% and a net margin of 96.37%. As a group, analysts expect that Labrador Iron Ore Royalty will post 3.375 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LIF has been the topic of a number of research analyst reports. TD Securities lowered their price target on Labrador Iron Ore Royalty from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Scotiabank boosted their price objective on Labrador Iron Ore Royalty from C$30.00 to C$32.00 in a research note on Thursday, May 30th.

About Labrador Iron Ore Royalty

Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets; iron ore concentrate; and seaborne iron ore pellets.